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I. Incorporating Your CompanyThe decision whether to incorporate or not, and what type of company to set up, is a complex one. One of the main advantages of incorporating is it shields you from personal liability by creating a separate identity for the corporation . It can operate, exist, and defend itself on its own. Its interest does not dissolve upon loss of an owner like a sole proprietorship, it is freely transferrable and pieces of it can be sold via stocks, it is taxed as its own entity, and if someone were to take an action against it, the company alone is liable. It is also more complex with more documentation and procedures; burdensome with separate taxing responsiblities; the owner cannot deduct losses personally (these can only be deducted by the corporation); it it must be filed with the state before it can exist; and must be run by a board of directors. You may also run into the double taxation problem. A corporation is a separate entity and therefore taxed as such. Any dividends issued to the shareholders are also taxed against the shareholders. So if you run a small corporation where you are the major shareholder, you may be taxed twice. However, you may deduct a reasonable salary from your company's income and there are other ways to set up your corporate tax structure if you qualify. We will discuss "s" corp. status in a moment. First, it may be helpful for you to look over the following two web sites, Biz Filings and Parcorpsvcs . They provide some very helpful comparison charts of the different company structures available to you. (sole proprietorship, partnership, limited liablity corporation, corporation.) Once you decide if it is for you, then you need to determine whether to file as a limited liablity corporation, closed corporation, "c" corporation, or an "s" corporation. The decision regarding "c" or "s" status involves taxation issues. You must meet certain criteria to qualify as a "s" corporation. Review the following web pages, Biz Filings and Parcorpsvcs if you would like more information about "s" corp. status. :
1. Reference MaterialsThe following sites can also give you pointers on how to set up your company; frequently asked questions; and general help and reference information. You can also check out Incorporate for everything you need to know about incorporating your business and resources. International Law Systems addresses establishing your business entity in other countries. The Small Business Administration is always a good place to go for any information and help related to small business set up and administration.
2. Incorporating Your CompanyThe following is a list of places you can go to incorporate your company or set up a Limited Liability Corporation.
Do you need something specific or would you like to see more? Visit Yahoo 's list of Incorporation Services. Both International Systems and Start a Business can help you with international issues.
3. What to Look forMost places will charge you an administrative fee to handle the processing of your registration. Plus you will have to pay the applicable state registration fees. For example, Bizfilings will charge anywhere from $105 to $405 depending upon the state you are filing. Parcorpsvsc charges a flat rate of $35.00 above cost. You should expect at least a week to process your request. Many of these services also offer other special perks too. For example, at Bizfilings you will find a list of accounting services and a connection to Name Protect to register your trademarks. They also handle international registration. They have detailed information on Limited Liability Corporations. They can also set up an employee tax ID and set up a registered agent for your company if you choose to incorporate in another state.
You should look for the following items at any place you choose to utilitize:
You may also find places that offer copyright, international, non-profit and patent assistance as well. For example, Corporate Creations also provides non-profit, trademark and copyright registration, and off shore incorporation services. FORWARD TO TRADEMARK REGISTRATION | FORWARD TO DOMAIN NAME REGISTRATION
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